Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1887-06-23
q wREcK-sTREwN SHORE.

UnGSN.St nENN of10nEs
A Further Drop in Wheat in chicago EN-.
phasizes the Downfall of the Clique--The
Bears Squeezing Their vfctims-The
Firms VINO Have Already Succum bed.
CHICAGO, June 49, To say that the situa-
ton o. Change is threatening would not
do justice to the actu al facts Tuesday's
drop in wheat of nineteen cents was fol-
lowed up by a further break of six and
one half cents yesterday, from which
there was but an Insignificant rally at the
close. Seventeen firms were posted for
failure to settle margins, and while it is
an utter impossibility to arrive at any
thing definite in the matter of liabilities
OF the suspended houses, it is safe to say
that &c, OO0,0 900 bushels Of wheat are in
volved, and that the loss on this immense
block is not less than s., COO GOO, or total
of about S.. 100000 in two days.
The suspended houses are: c. J. Ker-
shaw Il Co, Crosby & Co., Gregg. Son &
Co, s. D. Eldridge & Co., j. A. Edwards
& Co., Hord Bros. & Co., T. E. BALDWIN
& Co., j. 81. Yourst & Co., B. j. McCleary
& Co., Fl. J. Sheldon, s. C. Orr, NJ B.
Crafts & Co., Pickering & Co, II. K.
Matthews, Hubbard & Co., M. s. Robin
son & Co. and Yourst Il Brearly. Some
OF these firms announced that they will
De all right in day or two
Yesterdays lowest figure for wheat,
80 cents, was the lowest since 1862,
when wheat sold for 81 cents. In 1886
the lowest price was 69sS cents.
The announcement in the morning by
c. j. Ker shaw & Co., that they would
pay their clearing -house differences, was
received with demonstrations of delight
by the brokers at the Board of Trade, and
prices i'm mediately rose several points.
1t had been reported that Kershaw had
received $500. 200 early in the morning
from Gin cinnati to meet his obligations,
and the report being generally believed,
the announcement that Kershaw would
settle was in consequence received with
the utmost confidence and satisfaction.
At noon, however, the Clearin house
sheet showed that Kershaw & Co. had
failed to pay their debit balances. The
cause of this is stated to be as follows:
Rosenfeld q Co., who suspended Monday
because the Cincinnati clique would
not back them up as promised,
commenced suit yesterday against J. W.
Wiltshire and Howard r. Exert, two of
the Cincinnati clique, for 81, O00, 600 Learn
ing that Wiltshire had deposited money
yesterday morning in the American Ex-
change National Bank for Kershaw,
Rosenfeld & Co. attached this money.
shaw & Go. of this proceeding, until Mr.
DeWar, one of the partners, went to the
bank to have check for 500, 000 certified.
Other checks agcregating $780, 900 had
been issued by Kershaw & Co. before
they knew of the attachment AS the
money was attached, of course the pay
ment of the checks was refused at the
bank. Kershaw g. Co. consequently was
obliged to suspend, but they state that
they will meet their obligations to-
day, evidently believing that they
will be able by that time to release their
money in bank. It is stated that Armour,
Hutchinson and other heavy operators
were in the market yesterday endeavor-
ing to steady it, as they had an interest
in the welfare of the trade, and knew
that unless some heavy traders went in
and showed that they had confidence in
the deal universal panic might ensue,
and there would be no telling where the
thing would stop; their trading tended
to give confidence to others The after
noon deliveries of wheat released large
amount of wheat tied up in margins, and
will enable n any houses to protect their
trades in better shape.
A number of exciting incidents oc
currei in the Board Of Trade building
after the close, in which Deputy Sheriff
Burke cut prominent figure. Among a
number of wrlts given him to serve was
one of attachment sworn out by g. F
Baldwin and J. Fl. Wrenn against G. j.
Kershaw & Co. for SIS, 600. The deputy
was opposed at the first door of Ker-
shaw's office. After parleying with the
clerks and submitting to Insulting re-
marks for some time the pondorous dep
uty placed his shoulder against the frail
partition door and forced his way in.
Several clerks sprang forward to pre-
vent his entrance, but with wave of his
hands Burke threw the light weights back
and with two strides forward, entered
into the presence of Mr.. Kershaw, who
was seated alone in his private Office
Mr.. Kershaw accepted service of the
writ modify. The deputy served similar
papers on others around the building. At
the Clearinghouse he was also refused
but succeeded in forcing
open the door and serving Samuel Pow
ell, the manager, with writ to attach
S4OO worth of checks in favor of w s.
Crosby & Co.
Charles Henrioten, the banker, and q
member of the New York Stock Elk.
change, said this afte rnoon that he feared
MS liabilities would reach nearly $500, 900,
but expressed full confidence in his
ability to pay dollar for dollar.
The Rapid Growth of Admission, Alabama.
BALTIMORE, Nd, June 16-Hon. VIM. D.